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All Forum Posts by: Don Hines

Don Hines has started 38 posts and replied 607 times.

Post: Full time, or part time?

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

PT....physically
FT....mentally

The only challange my FT job offers anymore is not slapping the boss and getting up in the morning.

Don

Post: I just got fired!!!

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

Richard
Good points. But, he was also hired to finish the sheetrock prep which would create more dust. Maybe I was wrong to assume One final cleanup was better than more than one.
Jason
I wished I knew a contractor like you or Will's before I started this project. I know time will produce one.
For now, I am the contractor and labor. My wife is the painter. She has the same attitude as the one that let me go. I get everything ready, she comes in and paints, I clean up her equipment, remove any drop cloths masking tape, etc after.
Don

Post: Can RE Investors Compete against Freddie Mac in the Rental Market?

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

Mitch
They could start a whole 'nother agency to hire someone to read the rental application to them. Another agency to inspect the repairs. And another to collect the late fees. Just think about how many jobs that would create!!
Don

Post: Preying on the down and out how do I do it?

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

Look at homepath.com to search Fannie Mae houses in you area. It just takes some time to be able to spot an REO from the MLS. I search Realtor.com plus my agent sends me freshly listed REO's
Don

Post: Preying on the down and out how do I do it?

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

These properties are out there. I just looked at a FNMA where it appears the previous owner picked it up in 2003. The rehab he started just dosen't make sense. I think he bought it around 160k and the ARV is around 280k. It might be a nice house with another 100k invested on top of the 108k asking price. I have looked at a few REO's recently that were lost by investors.
Don

Post: Permit a new bedroom?

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

In the county I live in, sqare footage must be heated to be considered in the total. You might double check that it is already included. And, you already answered my other comment yourself. If the proper permits were not pulled, it could get ugly when time to sell. Jon told a story a while back about some slabs that had to be busted up with new tile on top of it to satisfy an inspector. I think the woek was a couple of years old. I would go with the permits. In a rental, you could be opening up yourself to some liabuility.
Don

Post: I just got fired!!!

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

James
You made me think of a sin that I commited...
I didn't actually have a scope. I had a list of the work we discussed written down on some paper. But, I couldn't produce it when I needed it.
I was so happy to get some help that I forgot all of the rules I have learned on BP.
Don

Post: I just got fired!!!

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

WOW
Some took this thread as it was intended; to share a little humor. I am reminded of what Warren Oates said in the movie Stripes,....."Lighten up Francis".
But, I will address some of the serious replies. This guy came off of Craigs List. I found his add to be amusing so I gave him a chance. He looked at what I had three weeks ago and agreed to do it for a certain price. I knew we were not going to make it together when he "didn't recall discussing this or that". Reguardless, it was worth another $100 to me for him to do the this and that. He accepted my offer and did a great job of caulking the new trim through out the house. The dust he was griping about is sheetrock dust from a project he agreed to finish and texture. The house is a '75 model. But, it had wall paper and paneling which was either removed or covered with new sheetrock.
I hired him to do more than just paint. But, it was all agreed to up front. That is what I really needed the help with. My wife is willing to do the paint and can do as well as a professional. But, she wants me to do all of the prep and clean up before and after. Apparantly that is what this joker had in mind too.
Don

Post: I just got fired!!!

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

My painter that I hired yesterday showed up to only gather his stuff and leave. He finally returned a call and told me that when I get done with all of the prep work to call him "if I was still interested in using him". I asked him if he was interested in doing anything to help get things to his liking. He said the place needs to be vacumed with a heppa filter. I told him where my vacume was stashed in the house. He said I could call him when I get the place ready.
I would have never known he was so professional by that old Chevy Vega he drives.
Don
:lol: :lol:

Post: How to save on Materials?

Don HinesPosted
  • Investor
  • Little Rock, AR
  • Posts 628
  • Votes 251

We had this discussion a couple of months ago. Someone suggested rnovationscoupons.com
I have used them twice for Lowes 10% off coupons. Home Depot accepts them too. I paid $7 for 5 coupons. I saved $18 with the first one.
Don